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Debit balance of any account mean an ______ whereas Credit Balance means a ______
- a)Assets, Capital
- b)Assets, Liability
- c)Expense , Income
- d)All of these
Correct answer is option 'D'. Can you explain this answer?
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Debit balance of any account mean an ______ whereas Credit Balance mea...
Meaning of Debit and Credit Balance
In accounting, every account has a debit side and credit side. Transactions are recorded on these sides depending on the type of account. Debit balance refers to the amount of money that is owed to a particular account, while credit balance refers to the amount of money that is owed by a particular account.
Explanation of Options
Option A: Assets, Capital
Assets are items that a company owns, such as property, equipment, and cash. Capital refers to the amount of money that a company has invested in its business. These two terms are not related to debit and credit balances.
Option B: Assets, Liability
Assets are items that a company owns, such as property, equipment, and cash. Liability refers to the amount of money that a company owes to others. A debit balance in an asset account means that the account has more money than it owes, while a credit balance means that the account owes more money than it has.
Option C: Expense, Income
Expenses are costs that a company incurs, such as salaries, rent, and supplies. Income refers to the money that a company makes, such as sales revenue. These two terms are not related to debit and credit balances.
Option D: All of these
This option is correct because a debit balance in any account means that the account has more money than it owes, while a credit balance means that the account owes more money than it has. This applies to all types of accounts, including assets, liabilities, expenses, and income.
Conclusion
In conclusion, a debit balance in any account means that the account has more money than it owes, while a credit balance means that the account owes more money than it has. This applies to all types of accounts, including assets, liabilities, expenses, and income.
In accounting, every account has a debit side and credit side. Transactions are recorded on these sides depending on the type of account. Debit balance refers to the amount of money that is owed to a particular account, while credit balance refers to the amount of money that is owed by a particular account.
Explanation of Options
Option A: Assets, Capital
Assets are items that a company owns, such as property, equipment, and cash. Capital refers to the amount of money that a company has invested in its business. These two terms are not related to debit and credit balances.
Option B: Assets, Liability
Assets are items that a company owns, such as property, equipment, and cash. Liability refers to the amount of money that a company owes to others. A debit balance in an asset account means that the account has more money than it owes, while a credit balance means that the account owes more money than it has.
Option C: Expense, Income
Expenses are costs that a company incurs, such as salaries, rent, and supplies. Income refers to the money that a company makes, such as sales revenue. These two terms are not related to debit and credit balances.
Option D: All of these
This option is correct because a debit balance in any account means that the account has more money than it owes, while a credit balance means that the account owes more money than it has. This applies to all types of accounts, including assets, liabilities, expenses, and income.
Conclusion
In conclusion, a debit balance in any account means that the account has more money than it owes, while a credit balance means that the account owes more money than it has. This applies to all types of accounts, including assets, liabilities, expenses, and income.
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Debit balance of any account mean an ______ whereas Credit Balance mea...
The debit balance and credit balance is Correct in all the options because it's shows all the above nature in all the rules
. Debit the receiver and credit the giver.
.Debit what comes In and credit what goes out.
. Debit all the expenses,loss and credit all the income and profits.
. Debit the receiver and credit the giver.
.Debit what comes In and credit what goes out.
. Debit all the expenses,loss and credit all the income and profits.
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Debit balance of any account mean an ______ whereas Credit Balance means a ______a)Assets, Capitalb)Assets, Liabilityc)Expense , Incomed)All of theseCorrect answer is option 'D'. Can you explain this answer?
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